Tuesday, September 02, 2014: If you are an entrepreneur and planning to set up your own micro, small and medium enterprise, then there is some good news for you. You can register your enterprise now online instead of waiting for certificates from government departments.
Union minister of MSME Kalraj Mishra said that the government will be launching an online system for MSME registration in next few months. Mishra attended an interactive session with the entrepreneurs organized by the Council of Small and Medium manufacturing Industry in Hyderabad and he said on the sidelines of the event, “I am aware the difficulties faced by entrepreneurs in getting registered as a MSME unit at present. We want to simplify the procedure by making it the entire registration process online. This will not only make the process transparent but will save a lot of time.”
The minister also said that the government is working upon a new policy for the MSME sector which will redefine this industry and will make it more compatible with the transforming business environment. The revived MSME sector may see the present levels of capital investment and this revival will benefit MSMEs financially too as they will easily access bank finances. Mishra said he is aware of the current as well as the impending problems faced by the MSME units while applying for bank loans. He said that he has arranged a meeting with top bank officials to sort out the issue.
Several industry bodies like Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI), Federation of Telengana Small and Medium Industries Assocation (FTSMIA) , Association of Lady Entrepreneurs of AP (ALEAP) and Confederation of Women Entrepreneurs (COWE) have urged the minister to look into the power crisis issue too. Issues like skill development and R&D in the sector also require serious attention.
